June 19, 2020 / 7:31 AM / 16 days ago

London stocks gain on upbeat retail sales, oil boost

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* FTSE 100 up 0.5%, FTSE 250 adds 0.2%

June 19 (Reuters) - London shares rose on Friday as a sharp rebound in retail sales in May bolstered hopes of a swift economic recovery from a pandemic-driven slump, while energy shares tracked a gain in oil prices.

The FTSE 100 was up 0.5% and on course to rise for the fourth week in five as optimism around the revival in business activity overshadowed concerns of further lockdowns following a surge in infections in the United States and China.

Data on Friday showed retail sales volumes in May surged by a record 12% amid an easing in the nationwide shutdown imposed to contain the spread of the novel coronavirus.

The mid-cap FTSE 250 added 0.2%, with auto , banking and food and beverage stocks leading gains.

BP Plc and Royal Dutch Shell Plc were among the biggest boosts to the FTSE 100 as oil prices rose on a pledge by OPEC and allies to meet their supply cut commitments.

Reporting by Shashank Nayar and Sagarika Jaisinghani in Bengaluru; editing by Uttaresh.V

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